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we're talking about the fiscal cliff. the president campaigned around this country, and he said i have got a balanced plan, and that balanced plan is going to have so much in spending cuts and so much in tax increases, it needs to be balanced, and you republicans, we have got to have more tax increases, our country needs to get itself on a sound financial path, and i have got a deficit reduction plan. and he ran an ad, he ran an ad in the last months of this campaign that said i have a plan to pay down the debt. earlier this year his budget director came before the committee and would not disavow the claim the president has a plan to pay down the debt. and i would just say that that is one of the greatest financial misrepresentations ever, that the president of the united states would tell the american people don't worry, elect me, i've got a plan to pay down the debt. when he has no such plan. nothing close to it. under the score of the congressional budget office, over the next ten years we will add almost $9 trillion -
we're talking about the fiscal cliff. the president campaigned around this country, and he said i have got a balanced plan, and that balanced plan is going to have so much in spending cuts and so much in tax increases, it needs to be balanced, and you republicans, we have got to have more tax increases, our country needs to get itself on a sound financial path, and i have got a deficit reduction plan. and he ran an ad, he ran an ad in the last months of this campaign that said i have a plan to...
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avoiding that fiscal cliff. but it seems like the thing that's holding it up is the top 2%. just wanting to preserve the tax, the expiring tax cuts for those top 2%. and they will do so at the expense of the 98% that we all agree we need to extend the tax cuts for. so i just don't understand why it's going to take so long for us to -- ms. schakowsky: let's talk about that for a minute. it seems what's holding up an agreement, as you said, is there are those on the republican side of the aisle who are willing to go to the mat to protect tax cuts for the very wealthiest of americans. people who make $250,000 and more. now, of course, our proposal is to say that the first $250,000 of income for everyone, even if you make $500,000 a year, on the first $250,000, i think we all agree that that we should extend those -- that we will extend those tax cuts. it's for the people -- it's for the dollars above $250,000 that some of our colleagues are saying no. we're not going to ask those people even to pay a penny more tha
avoiding that fiscal cliff. but it seems like the thing that's holding it up is the top 2%. just wanting to preserve the tax, the expiring tax cuts for those top 2%. and they will do so at the expense of the 98% that we all agree we need to extend the tax cuts for. so i just don't understand why it's going to take so long for us to -- ms. schakowsky: let's talk about that for a minute. it seems what's holding up an agreement, as you said, is there are those on the republican side of the aisle...
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they seem less and less serious getting a plan that would avert the fiscal cliff. why i think you heard a number of them say publicly they're willing to go over the cliff to get higher taxes. but i think what is really interesting about your survey, bill, americans are pretty discerning. by a 53-36 margin they believe if the president gets higher taxes he will use it for more government spending, not to reduce the deficit. which is why a large majority i believe understand spending and spending cuts has it be part of the solution to this problem. bill: to your point, it showed a greater majority of people we polled said if you give washington more morn any they will spend it not pay down the deficit. getting back to what speaker boehner says, $1.4 trillion in revenue can't pass the house or senate right now. democrats control the senate. is that true? >> possible with a democratic majority in the senate they might get something like that through. there are a lot of democrats in the united states senate will have major heartburn over level of tax increases talking a
they seem less and less serious getting a plan that would avert the fiscal cliff. why i think you heard a number of them say publicly they're willing to go over the cliff to get higher taxes. but i think what is really interesting about your survey, bill, americans are pretty discerning. by a 53-36 margin they believe if the president gets higher taxes he will use it for more government spending, not to reduce the deficit. which is why a large majority i believe understand spending and spending...
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he told people that investors are nervous about the fiscal cliff. the fed predicts the unemployment rate will remain high next year, but interest rates will remain very low for the foreseeable future. >> bernanke says the best thing congress can do to solve this political stalemate very soon to avoid an economic downturn with just 19 days until the fiscal cliff, now both sides in this standoff seem no closer to a deal. the public rhetoric, though, is ramping up, while the private talks seem to be at a standstill over the same tax hangups. >> the president and i had a frank conversation about how far apart we are. >> he has made abundantly clear both in his policy presentations and in what he has said to you and to the american public that he is willing to make tough choices on the spending side. >>> the overseas markets though, don't seem to be too concerned about the lack of progress. stocks actually are mostly up, in fact. >> there's all kinds of polls out there. we have an abc news poll, fox news poll. i think overwhelmingly, the majority of amer
he told people that investors are nervous about the fiscal cliff. the fed predicts the unemployment rate will remain high next year, but interest rates will remain very low for the foreseeable future. >> bernanke says the best thing congress can do to solve this political stalemate very soon to avoid an economic downturn with just 19 days until the fiscal cliff, now both sides in this standoff seem no closer to a deal. the public rhetoric, though, is ramping up, while the private talks...
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cliff. we'll show you what is driving the optimism. there is quite a bit of it. plus, possible break in case of the manhattan murder. days after somebody carried out apparent execution on the sidewalk. police found a very important clue miles from the scene. it could help them track down the killer. they need some help. so we'll show you with the help of journalists on fox news with this wednesday "fox report." our new maine stays! 15entrees under $15, seafood, chicken and more! oothe tilapiawith roastedegetab! i'm actually looking at the wo grilled chicken with portobello wine sauce. at pork chop was great! no more fast food friday's! we're going to go to red lobster. yep. [ male announcer ] come try our new menu and sea food differently and introducing 7 lunch choices for just $7.99. salad, sandwiches, and more. military families face, we understan at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to curr
cliff. we'll show you what is driving the optimism. there is quite a bit of it. plus, possible break in case of the manhattan murder. days after somebody carried out apparent execution on the sidewalk. police found a very important clue miles from the scene. it could help them track down the killer. they need some help. so we'll show you with the help of journalists on fox news with this wednesday "fox report." our new maine stays! 15entrees under $15, seafood, chicken and more! oothe...
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time for the daily fiscal cliff update as much as i am bored to tears with this story. bored. bored horrible. they will get something done. or they're not. tenth days from potential economic crisis leading republicans warn lawmakers no one is leaving washington, dc, for the holidays, until a deal is done. that would probably include wendell. who is the grinch? >>reporter: house majority cantor who is predicting lawmakers may stay until christmas and come back between christmas and new years. doesn't seem to have been much progress since the first post election face-to-face talks between the president and speaker boehner on sunday but aides say the president is eager for a compromise but at the same time they defended his public prediction that speaker boehner will give up trying to extend the public administration's upper income tax cuts. >> the president predicted the speaker boehner would not want to hold a position and that republicans in general would not want to maintain a position that would result in everyone's taxes going up because of their insistence that the wealthi
time for the daily fiscal cliff update as much as i am bored to tears with this story. bored. bored horrible. they will get something done. or they're not. tenth days from potential economic crisis leading republicans warn lawmakers no one is leaving washington, dc, for the holidays, until a deal is done. that would probably include wendell. who is the grinch? >>reporter: house majority cantor who is predicting lawmakers may stay until christmas and come back between christmas and new...
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government budget deficits do they matter of course but looking at the fiscal cliff debate it actually seems most seem to agree with that statement i just made though folks may disagree on the best way or time to address them here's the but is this framework misguided well yes according to supporters of m.m.t. at least as far as i can tell it's a theory we've been hearing more and more about over the years some guests on this show have revealed shades of it but we haven't really gotten into a discussion about it now some press attention has been given more it seems in the last year or so here's an article from the washington post modern monetary theory an unconventional take on economic strategy and further in this off article it talks about deficit our walls and so not hawks or does but owls now where did this term come from well according to the article it was coined by stephanie kelton a professor at the university of missouri at kansas city who with another gentleman talked about in the article is part of a small group of economists who have concluded that everyone members of congr
government budget deficits do they matter of course but looking at the fiscal cliff debate it actually seems most seem to agree with that statement i just made though folks may disagree on the best way or time to address them here's the but is this framework misguided well yes according to supporters of m.m.t. at least as far as i can tell it's a theory we've been hearing more and more about over the years some guests on this show have revealed shades of it but we haven't really gotten into a...
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you were chatting about some of the fiscal cliff issues overall watching so closely. how do you prioritize here? how does egypt figure in this letter for example, to some of the other challenges we're facing as a country? >> well egypt is an international challenge for us and a foreign relations challenge for us but egypt has been prior to the revolution one of the more stablizing forces in the middle east. there's a huge election that started today in embassies around the world for egyptians and will culminate this saturday when they start the vote on the new constitution. there is a lot of concern about the new constitution. a lot of concern about the power it gives president morsi. that will be a major issue for us in the united states. jenna: how concerned are you some of the smuggle abouted weapons will be turned on us? >> the smuggled weapons won't be turned on us per se. but because of our pact to defend israel if they attack israel they are attack the united states. jenna: you said we don't need a threat now? >> we need diplomacy to work and president morsi to
you were chatting about some of the fiscal cliff issues overall watching so closely. how do you prioritize here? how does egypt figure in this letter for example, to some of the other challenges we're facing as a country? >> well egypt is an international challenge for us and a foreign relations challenge for us but egypt has been prior to the revolution one of the more stablizing forces in the middle east. there's a huge election that started today in embassies around the world for...
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>>> but we begin with the latest on the fiscal cliff. republicans made another counteroffer but it's reportedly not much different from their first offer. though we don't have specifics, we do know the president and john boehner talked on the phone last night and that call, according to a republican familiar with it, was tense and lasted just 15 minutes. i want to bring in real clear politics reporter aaron mcpike and david hawkings, editor of the cq roll call daily briefing. good morning. so president obama sat down with barbara walters last night. here's what he said. >> most important thing we can do is make sure the middle class taxes do not go up on january 1st and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> so he's confident. is it almost a foregone conclusion, do you think, david, that this is going to be the first piece of the puzzle that falls into place? >> i'm pretty confident that that's going to have to be the first piece of the pu
>>> but we begin with the latest on the fiscal cliff. republicans made another counteroffer but it's reportedly not much different from their first offer. though we don't have specifics, we do know the president and john boehner talked on the phone last night and that call, according to a republican familiar with it, was tense and lasted just 15 minutes. i want to bring in real clear politics reporter aaron mcpike and david hawkings, editor of the cq roll call daily briefing. good...
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as long as the fiscal cliff is approaching ahead. we have a panel to debate how like light is that a dial might happen any soon, bill, plus th this. [chanting] bill: tempers are hot on fire. controversial right to work law passed in michigan and a top union leader is here live in a moment and will react to all of that. martha: in a will be pretty interesting, stick around for that. a massive gas explosion. look at that car driving flight through it, melted parts of a major interstate. witnesses describe this horrifying scene coming up. >> all of a sudden i mean the christmas -- the ornaments on the tree, my pictures rattled, everything, and then it just -- it sounded -- almost like the end of the world, or like turbine engines. bill: a major highway reopening in west virginia after a massive explosion shut it down. check that out. that is a police car driving through the flames. several homes destroyed, interstate 77 is now back open in both directions, and the natural gas line fire melted guardrails, left an 800-foot section baked b
as long as the fiscal cliff is approaching ahead. we have a panel to debate how like light is that a dial might happen any soon, bill, plus th this. [chanting] bill: tempers are hot on fire. controversial right to work law passed in michigan and a top union leader is here live in a moment and will react to all of that. martha: in a will be pretty interesting, stick around for that. a massive gas explosion. look at that car driving flight through it, melted parts of a major interstate. witnesses...
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add retailers to those worried about the fiscal cliff. a walmart survey says customers know about the impending tax increases and spending cuts. and some are cutting back on their spending for the holidays. most retailers depend on this month's sales for their success. and poor results could be disastrous for them. >>> and bank of america customers aren't happy, either. the nation's second-largest bank had its lowest satisfaction score in 11 years. the worst for any major bank, in fact. it's the only one with a grade lower than before the recession. at the other end of the spectrum, though, is jpmorgan chase, whose satisfaction score was up 6%. >>> and 2012 was on track for a record gun sales ahead of last year. the fbi has run 350,000 more of its instant background checks than in all of last year. abc news expects almost 2 million more gun checks just this month. >>> and call it easy bake backlash. a new jersey girl's campaign to make the toy more gender-neutral appears successful. 13-year-old mckenna pope says the easy bake oven should
add retailers to those worried about the fiscal cliff. a walmart survey says customers know about the impending tax increases and spending cuts. and some are cutting back on their spending for the holidays. most retailers depend on this month's sales for their success. and poor results could be disastrous for them. >>> and bank of america customers aren't happy, either. the nation's second-largest bank had its lowest satisfaction score in 11 years. the worst for any major bank, in...
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. >>> all right, less than three weeks to go until that so-called fiscal cliff, and still no deal. but this morning, there are signs of some movement in negotiations. president obama and house speaker john boehner did speak by phone last night. that conversation came after the president offered to reduce his initial request for $1.6 trillion in new revenue to $1.4 trillion but is reportedly not backing down on raising taxes for the top 2%. boehner's spokesman said republicans are still seeking further concessions on spending cuts. >>> well, there are some new details this morning on that london nurse who took her own life after passing through a prank call at the hospital that was treating kate middleton for extreme morning sickness. jacintha saldanha's family reveals that she left a suicide note, though they haven't released details of what that note said. earlier this week, the two deejays who made the call said the tragedy has left them shattered, gutted and heartbroken. >>> now, here's your first look at this morning's "dish of scrambled politics." mitt romney wasn't the only o
. >>> all right, less than three weeks to go until that so-called fiscal cliff, and still no deal. but this morning, there are signs of some movement in negotiations. president obama and house speaker john boehner did speak by phone last night. that conversation came after the president offered to reduce his initial request for $1.6 trillion in new revenue to $1.4 trillion but is reportedly not backing down on raising taxes for the top 2%. boehner's spokesman said republicans are still...
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economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off if we get this done. the most important thing we can do is make sure middle class taxes don't go up on january 1. and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for high income individuals. >> prediction, are you going to be able to raise taxes, yes or no? >> taxes are going to go up one way or another. and i think the key is to make sure that taxes go up on the high end individuals like you and me, barbara. we can afford it. it is entirely possible for us to come up with a deal, but time is running short. >> how about this analysis. the obama administration wants to send a clear message that while it supports syria's coalition opposition, to lead syria's democratic transition when the assad regime falls, there is no place for extremism in the
economy and that pending fiscal cliff. are we going to go over the fiscal cliff? >> you know, i remain optimistic that there are enough people of good will in this town that recognize our economy will be much better off, american families will be much better off if we get this done. the most important thing we can do is make sure middle class taxes don't go up on january 1. and i'm pretty confident that republicans would not hold middle class taxes hostage to try to protect tax cuts for...
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the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. now, if the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> on that question of whether or not we have put forward specific spending cuts, the answer is is we have. not only that, we signed law a trillion dollars in specific spending cuts. so if you combine what is signed into law with what we proposed versus the total absence of any specificity from the republicans for a single dollar in revenue, i think in the battle of specificity, the outcome has already been decided. >> woodruff: and a short time ago an administration official told us the president and the speaker spoke by phone this evening. now to our series of conversations on this subject and what should be done. we've listened to a range of opinions in recent days, including erskine bowles of the simpson-bowles
the longer the white house slow-walks this process, the closer our economy gets to the fiscal cliff. now, if the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. because right now the american people have to be scratching their heads and wondering when is the president going to get serious? >> on that question of whether or not we have put forward specific spending cuts, the answer is is we have. not only...
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government budget deficits do they matter of course but looking at the fiscal cliff debate it actually seems most seem to agree with that statement i just made though folks may disagree on the best way or time to address them here's the but is this framework misguided while guess according to support.
government budget deficits do they matter of course but looking at the fiscal cliff debate it actually seems most seem to agree with that statement i just made though folks may disagree on the best way or time to address them here's the but is this framework misguided while guess according to support.
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stocks soared in early trading on hopes of a deal on the fiscal cliff. but a parade of speeches by congressional leaders this afternoon dump ad whole lot of water on the rally. stocks pared back from session highs. dow closed down 78 points. even dollar stores are having trouble making money today. dollar general shares got hammered. they warned of sluggish growth ahead and margins that would likely remain flat. >>> urban outfitters is mailing holiday catalogs filled with f-bombs. did you get one of these. retailer is seeing quote, high single-digit expansion in same-store sales this quarter. shares rose more than 4% on the news. it is our top story tonight. unusters cracking the bedrock of labor unions in michigan even though fiery protests rocked the state capitol all day today they were outhere. its house of representatives has passed two right to work bills making it possible for workers to volunteer to belong to a union and pay dues. michigan governor rick snyder could sign bills into law any minute now. so is this the end for unions? joining me now
stocks soared in early trading on hopes of a deal on the fiscal cliff. but a parade of speeches by congressional leaders this afternoon dump ad whole lot of water on the rally. stocks pared back from session highs. dow closed down 78 points. even dollar stores are having trouble making money today. dollar general shares got hammered. they warned of sluggish growth ahead and margins that would likely remain flat. >>> urban outfitters is mailing holiday catalogs filled with f-bombs. did...
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the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box mp
the fiscal cliff debate hits the floor of the u.s. house but not much progress is made. warren buffett and others tell lawmakers to look for more money from the estate tax. >> susie: i'm susie gharib. could another major bond-buying program be on the way? what we could hear tomorrow as federal reserve policymakers wrap up their two-day meeting. >> tom: ever wonder what goes into making those cardboard store displays? tonight, we look at how one box mp
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and that's one of the reasons that we're now in the fiscal cliff. >> baseline budgeting has been used by both parties since 1974. allows republicans to exaggerate claims of frugality. allows democrats to expand the growth of government. either way accounting trick that no family tried to balance its checkbook could ever get away with. bret? >> bret: british bank sbc has agreed to pay money to settle a money laundering case. the justice department in the u.s. says the bank cleaned funds for narcotics traffickers in mexico and allowed illegal transactions with iran, cuba, and other nations. michigan becomes a right-to-work state with some fireworks outside the state capitol. we'll talk about what's going on with the fox all-stars when we come back. begin. tomato, obviously. haha. there's more than that though, there's a kick to it. wahlalalalallala! smooth, but crisp. it's kind of like drinking a food that's a drink, or a drink that's a food, woooooh! [ male announcer ] taste it and describe the indescribable. could've had a v8. >> no matter what happens, they cannot define us. >> what
and that's one of the reasons that we're now in the fiscal cliff. >> baseline budgeting has been used by both parties since 1974. allows republicans to exaggerate claims of frugality. allows democrats to expand the growth of government. either way accounting trick that no family tried to balance its checkbook could ever get away with. bret? >> bret: british bank sbc has agreed to pay money to settle a money laundering case. the justice department in the u.s. says the bank cleaned...
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lisa, thanks. >>> the fiscal cliff talks have been happening. they are getting grief from some members of their own parties. does the public have a right to know what is going on behind closed doors? our strategy session is next. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. hurry in and try five succulent entrees, like our tender snow crab paired with savory garlic shrimp. just $12.99. come into red lobster and sea food differently. and introducing 7 lunch choices for just $7.99. for a professional cleansing device? join the counter revolution and switch to olay pro-x. get cleansing results as effective as a $200 system. guaranteed or your money back. olay pro-x. out for drinks, eats. i have very well fitting dentu
lisa, thanks. >>> the fiscal cliff talks have been happening. they are getting grief from some members of their own parties. does the public have a right to know what is going on behind closed doors? our strategy session is next. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams...
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>>shepard: it looks like americans are fed up with the fiscal cliff fight. or just turning their backs and paying no attention. a majority now say they want lawmakers to do whatever it takes to reach a deal. a poll shows that 70 percent of people want to see a compromise to fix this mess. that is up from 62 percent last week because they are sick and tired of hearing about it. we are 21 days from the deadline when spending cuts and expiring tax break could tank the economy. president obama met with house of representatives speaker boehner over the weekend. we did not hear anything from either one of them so folks could think a deal is in the works. and now, speaker boehner is pointing the finger at the democrats and harry reid says it will be hard to get anything done before christmas. we will get our shopping done and hold you accountable later. and now, mike, speaker boehner said the meet was friendly but not productive. >>reporter: you get a sense that president obama and speaker boehner get along fine but today boehner hammered the president essentially
>>shepard: it looks like americans are fed up with the fiscal cliff fight. or just turning their backs and paying no attention. a majority now say they want lawmakers to do whatever it takes to reach a deal. a poll shows that 70 percent of people want to see a compromise to fix this mess. that is up from 62 percent last week because they are sick and tired of hearing about it. we are 21 days from the deadline when spending cuts and expiring tax break could tank the economy. president...
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three weeks until the fiscal cliff deadline. the man leading the republicans here hits the floor of congress today, to deliver what many americans are hoping will be a major development. so take a look. >> a lot of people know the president and i met on sunday. a nice meeting. cordial. but we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. where are the president's spending cuts? the longer the white house slow walks this process, the closer our economy gets to the fiscal cliff. >> no news. zip, no agreement still. we'll let you know if something significant happens. >>> developing now, hugo chavez undergoing surgery in cuba today. an operation that we're told was, quote/unquote, delicate. the venezuelan president's current health is a bit of a mystery. we do know he had surgery last year to remove a cancerous tumor. it is not yet clear what kind of operation he had today. updates as we get them. >>> in egy
three weeks until the fiscal cliff deadline. the man leading the republicans here hits the floor of congress today, to deliver what many americans are hoping will be a major development. so take a look. >> a lot of people know the president and i met on sunday. a nice meeting. cordial. but we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. where are the president's...
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he was supposed to be making a talk on fiscal cliff, but he decided to bring up michigan. do you think that he somehow intentionally or not emboldened the protesters there? >> of course he did. i mean, imagine this. this guy is bought and paid for, literally hundreds of millions of dollars of union contributions helped put president obama back in for a second term. the fact that he's backing the thuggish behavior of unions in michigan, i mean, he backed the thuggish behavior of unions in wisconsin, and it should be -- well, if you're a union member, you ought to be ashamed of the behavior of your union brothers. there's a democratic process, the people of michigan have elected representatives and an elected governor. they've made a choice to change the law and take away this crazy monopoly that lets unions force people to be members. i once had to be a member of a union. i hated it because they made me do things i didn't want to do. it's an inherently corrupt kind of organization to say you have to belong to a union to have a job. and the fact that the president gets into
he was supposed to be making a talk on fiscal cliff, but he decided to bring up michigan. do you think that he somehow intentionally or not emboldened the protesters there? >> of course he did. i mean, imagine this. this guy is bought and paid for, literally hundreds of millions of dollars of union contributions helped put president obama back in for a second term. the fact that he's backing the thuggish behavior of unions in michigan, i mean, he backed the thuggish behavior of unions in...
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. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a notebook. averaging 15 applications a day, at age 54, this is the first time she's ever been on unemployment. she's emptied out her 401(k), savings and the last resort, emergency federal jobless program kept her in her town home giving her $454 a week. december 29th, unless congress and the white house act the money stops. >> we're not trying to live off the system. we're trying to survive. it's not a luxury to be on unemployment. it's a means to keep us going. >> reporter: the fear of the fiscal cliff isn't just cheer in the suburban neighborhood. in the states with the highest unemployment from the west to the north to the south, they will be hit the hardest. some 2 mill
. >> reporter: liz does not call it a fiscal cliff. she could be facing at year's end is a financial free-fall. >> i just don't wish i was in this situation but it is what it is. and i could just do what i can. >> reporter: she lost her job as a new home sales manager last january. annan old laptop with a broken cord, she applies for job after job, keeping track in a notebook. averaging 15 applications a day, at age 54, this is the first time she's ever been on unemployment....
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but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act and that's part of how we should go forward. jenna: that was house minority leader nancy pelosi late last month,g democrats in congress support ad trillion dollars in federal spending cuts. with so much of the fight over that looming fiscal cliff focusing on tax rates we want to look at that claim, that claim specific to spending to see how it stands up with the facts. doug mckelway is live in washington with more on this story. >> reporter: good morning, jenna. the republicans claim democrats are solely focused on raising tax rates not spending cuts. democrats counter
but remember, he has to strike a fiscal cliff deal. that deal is likely to contain some things unions don't like. that is some of the politics going on right now. rick: bob cusack, managing editor of "the hill." thanks so much. >> thanks, rick. >> there are three elements to this. growth, reduction in spending, and raising of revenues. we have already voted for, we, democrats voted for over a trillion dollars in cuts and spending. that was part of the budget control act...
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. >>> with the fist fiscal -- fiscal cliff, there is no information on whether they are closer to a deal but they have more on what programs they believe should or should not be attached on the way to a balanced budget. there are comments of a republican senator and we have more on why he says it's time to cut the food stamps program. >>> as we told you earlier, sal, you have the chopper going? >> yes, news chopper 2 is on the scene of a cliff rescue of the daily city border and skyline and at least one lane is blocked. it is dark and you can tell there are fire crews on the scene and they are trying to figure out what happened as we push closer. we do know for sure something is going on next to the cliff and our reporter brian flores will have more information coming up. let's take a look at the bay bridge, those metering lights get turned on 6:15 and traffic is moving along slowly. it is already crowded as you can tell. traffic 101 southbound does look okay headed towards the san mateo area, let's go to steve. >>> thank you sir, a very good morning. yesterday we had some record highs e
. >>> with the fist fiscal -- fiscal cliff, there is no information on whether they are closer to a deal but they have more on what programs they believe should or should not be attached on the way to a balanced budget. there are comments of a republican senator and we have more on why he says it's time to cut the food stamps program. >>> as we told you earlier, sal, you have the chopper going? >> yes, news chopper 2 is on the scene of a cliff rescue of the daily city...
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possible progress in fiscal cliff talks feds kicking off two day meeting. economists expect that will result in additional economic stimulus. here is how the market is doing, dow 60 points higher. bloomberg index up by more than 1%. have you heard of the apple tax? average american household spent $444 on apple products last year. the number is up sharply from $295 in 2010. $150 in 2007. analysts says if apple tv comes to u.s. homes next year spending will double to $888 by 2015. live at the new york stock exchange, i'm jane king. >> with an annual income of about $50,000 that's almost 1% people are spending on apple products. all going to cupertino. >> next year could be double that with the tv mind-boggling. >>> you may want to be watching tv in the days ahead. this morning you can get out. >> like we do every night we watch abc family. >> may want to watch tv because we all have bills to pay. >> keep watching us. >> exactly. don't take food off our family's -- kidding that. roof of mine that you are helping puttover my head does leak. guilt trip-tv right
possible progress in fiscal cliff talks feds kicking off two day meeting. economists expect that will result in additional economic stimulus. here is how the market is doing, dow 60 points higher. bloomberg index up by more than 1%. have you heard of the apple tax? average american household spent $444 on apple products last year. the number is up sharply from $295 in 2010. $150 in 2007. analysts says if apple tv comes to u.s. homes next year spending will double to $888 by 2015. live at the...
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and when that whole fiscal cliff debate is about jobs, you don't want to forget about the 75,000 jobs and the wind energy. and a lot of these jobs have already been on the -- have already led to some layoffs. we could bring those people back to work pretty fast. i yield the floor. i guess i would suggest the absence of a quorum. quorum call: a senator: mr. president? the presiding officer: the senator from nebraska. mr. johanns: thank you, mr. president. mr. president, the founders of this great country -- spoeup sir, we're -- the presiding officer: sir, we're in a quorum call. january january -- mr. johanns: mr. president, i ask the quorum call be set aside. the presiding officer: without objection. the senator from nebraska. mr. johanns: the founders of this great country wanted the senate to be set up as a body anchored to fully demand and fully debate issues. yet there has been a lot of talk lately about the senate rules changes to limit senators' ability to make their voices heard. now to many this may sound like inside baseball, limited to the concerns of just a hand full of u.s
and when that whole fiscal cliff debate is about jobs, you don't want to forget about the 75,000 jobs and the wind energy. and a lot of these jobs have already been on the -- have already led to some layoffs. we could bring those people back to work pretty fast. i yield the floor. i guess i would suggest the absence of a quorum. quorum call: a senator: mr. president? the presiding officer: the senator from nebraska. mr. johanns: thank you, mr. president. mr. president, the founders of this...
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analysts say the fiscal cliffs are taking a positive return. here is the nasdaq, and s&p 500 all posting moderate gains. >>> to many people's surprise the government will end up with a profit for the bailout of the end insurance -- of the insurance giant. a.i.g. may be able to pay a dividend to its shareholders by next summer, quite a turnaround. >>> they just lot a brainy battle. >>> and we have more on the new invention that will be launched into space today. [ laughter ] [ girl ] wow, you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah blah blah. if i had a sleepover, i couldn't just move the tv into the playroom. no. we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver only from at&t u-verse. get u-verse tv for $29 a month for six months. rethink possible. . >>> welcome back, this is the new experimen
analysts say the fiscal cliffs are taking a positive return. here is the nasdaq, and s&p 500 all posting moderate gains. >>> to many people's surprise the government will end up with a profit for the bailout of the end insurance -- of the insurance giant. a.i.g. may be able to pay a dividend to its shareholders by next summer, quite a turnaround. >>> they just lot a brainy battle. >>> and we have more on the new invention that will be launched into space today. [...
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you've heard of fiscal cliff. have you heard about the apple tax. u.s. households spent $444 on apple products last year up from $155 years ago. story from reuters calls it the apple tax. median american income over $50,000 a year, which means $444 is a big chunk to wind up in the cupertino coffers of apple. unlike other taxes this is voluntary. >>> one family's tragedy inspires another's goodwill. now the two are united in promoting organ donations. 18-year-old alfonso garcia was given days toly two years ago when his -- two years ago. the two families are honoring george by decorating and writing a quote in this year's tournament of roses parade. >> i hold them in such a high place he's my hero and will always be my hero. i do this for his parents. >> it makes me want to do more as i have climbed out of my grief. >> parade float feature the likeness of george becker and other organ donors to promote transplant programs throughout california. >>> uc berkeley stirs up new controversy can scholarship fun for undocumented students. -- fund for undocumented
you've heard of fiscal cliff. have you heard about the apple tax. u.s. households spent $444 on apple products last year up from $155 years ago. story from reuters calls it the apple tax. median american income over $50,000 a year, which means $444 is a big chunk to wind up in the cupertino coffers of apple. unlike other taxes this is voluntary. >>> one family's tragedy inspires another's goodwill. now the two are united in promoting organ donations. 18-year-old alfonso garcia was...
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he was worried about the fiscal cliff. i don't think it's going to matter. >> not at all. >>> hugh jackman is having a big december. there's his movie that opens christmas day. but the excitement does not stop there. look at this. the highlight of hugh's month, he got to meet paula. >> i think it's the other way around. i stalked him. my friend and i, bethany murdoch, ran into him at a richard marx concert sunday night in new york. just part of his big weekend. there's a restraining order. i have something around my ankle right now, to track me at all times. >> court-ordered bracelet. very nice. >> he was also a vocal smackdown singing for "les mis" with his movie co-star, russell crowe. take a listen. ♪ >> he does it all, doesn't he? >> he's got some pipes. >> man. i don't know what i find more stunning. that you met hugh jackman, or that richard marx is still performing. >> he's still got it. >>> if you can't bend it like beckham, you might want to try bouncing it a little bit. >> watch this bizarre soccer match in nor
he was worried about the fiscal cliff. i don't think it's going to matter. >> not at all. >>> hugh jackman is having a big december. there's his movie that opens christmas day. but the excitement does not stop there. look at this. the highlight of hugh's month, he got to meet paula. >> i think it's the other way around. i stalked him. my friend and i, bethany murdoch, ran into him at a richard marx concert sunday night in new york. just part of his big weekend. there's a...
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if the nation heads over the fiscal cliff. >> consumer spending will go down. that means you've got less customers. businesses get fewer profits. they hire fewer workers. you go on a downward spiral. >> reporter: the president met with house speaker john boehner at the white house. their face-to-face meeting in three weeks. neither side would offer any details from the discussion, which may be a good sign of modest progress. but a spokesman for the republican leader said boehner did not back down. his offer to the white house last week is still the gop's position in the fiscal cliff talks. that plan offers a total of $2.2 trillion in deficit reduction over the next decade, including $800 billion in new tax revenue, but no increases on the top 2% of taxpayers. that's where the stalemate seems to be centered. president obama insists taxes on the wealthy must go up. >> but when they start making a million or 10 million or 20 million, you can afford to pay a little more. >> reporter: several republicans indicated that's a concession they're willing to make. >> will
if the nation heads over the fiscal cliff. >> consumer spending will go down. that means you've got less customers. businesses get fewer profits. they hire fewer workers. you go on a downward spiral. >> reporter: the president met with house speaker john boehner at the white house. their face-to-face meeting in three weeks. neither side would offer any details from the discussion, which may be a good sign of modest progress. but a spokesman for the republican leader said boehner did...
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first let's tackle the fiscal cliff. i'm beginning to hear a ton of blowback about how we talk about it way too much. jim, give it a rest, will you? i'm getting feedbck how our rise above campaign is stillborn because the politicians aren't going to rise above, stop kidding yourself cramer. yes, yes, yes to my no vacation without legislation mantra. even has its own hashtag on twitter. i wish i never had to talk politics ever. one of the reasons that i started "mad money" was that i would never have to talk politics. that's something personal that shouldn't even be discussed on air. i don't have any choice. i know everybody's hostage to washington these days. i can isolate some cloud plays. there's some trends that can trump the government, health and wellness maybe? breaking up is easy to do stories. better than expected retailers, in the end when it come to the fiscal cliff, the longer we delay a deal or can't do a deal at all, it's worse for all the shareholders and the investors and the stock market. yes, a deal that
first let's tackle the fiscal cliff. i'm beginning to hear a ton of blowback about how we talk about it way too much. jim, give it a rest, will you? i'm getting feedbck how our rise above campaign is stillborn because the politicians aren't going to rise above, stop kidding yourself cramer. yes, yes, yes to my no vacation without legislation mantra. even has its own hashtag on twitter. i wish i never had to talk politics ever. one of the reasons that i started "mad money" was that i...
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stay with us. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size of our bloated government? the answer in tonight's chalk talk. >>> is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i really need is eep. introducing the ishares core, budinglos for the heart of your portfolio. find out why 9 out of 10 ilarge professisional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectis, risks, charges and expenses. ad and consider itarefully bere investing. ri includes possible ss of principal. lou: new reports show foreign investment is helping the housing market slowly recover. citimortgage president and ceo sanjiv das joins us here in just moments to discuss that and
stay with us. >>> the fiscal cliff fiasco. the obama plan, the boehner plan, will either alter america's rising rate of spending or lessen the size of our bloated government? the answer in tonight's chalk talk. >>> is the housing market really recovering? $17 trillion is riding on the answer. the president and ceo of citi mortgage joins us next. twins. i dn't see them coming. i have obligations. cute obligation b obligatio. i need to rethink the core of my portfolio. what i...
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of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody says anything. this could be seen as something more good than bad. >> reporter: exactly. because they didn't come out of the meeting beating each other up and saying i'm never going to sign a deal with the other guy. the fact that they're keeping this quiet, hush hush for now in terms of the details of what they discussed suggests that they're hopeful of a deal, although i have to tell you. the president sounded pretty optimistic when he was in michigan about the possibility of us going off the cliff and falling into a second recession. here's what he had to sa
of course, if we fall off the fiscal cliff, we'll all die, right? actually, taxes will go up for pretty much everybody and automatic spending cuts kick in on knew year's day. the president and the house speaker met face-to-face just yesterday for the first time since the election, but are they talking about it? no. today an aide said the speaker is willing and still waiting for counteroffer from the president. ed henry is live at the white house. i don't know, ed. a meeting happens and nobody...
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one is the fiscal cliff. and the recession in europe. if things continue to slow down economically, we'll see less demand for gasoline. if there's more tension in the middle east, we'll see higher prices for oil. those are two things that could affect the price of oil, which will affect the price of gasoline. one thing to remember, that over the last ten years or so, wolf, demand for gasoline has started to drop off, as cars have become more efficient and as we've become better conservers. you'll probably see the price of gasoline head up again in the interim but for the time being you're probably looking at lower gas prices, wolf. >> we'll take it, no one's complaining obviously. thanks very much. >>> a u.s. navy s.e.a.l. rescue in afghanistan turns tragic. we have details on the member of that elite s.e.a.l. team killed while saving an american held captive. impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, glob
one is the fiscal cliff. and the recession in europe. if things continue to slow down economically, we'll see less demand for gasoline. if there's more tension in the middle east, we'll see higher prices for oil. those are two things that could affect the price of oil, which will affect the price of gasoline. one thing to remember, that over the last ten years or so, wolf, demand for gasoline has started to drop off, as cars have become more efficient and as we've become better conservers....
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time for the fiscal cliff update. we have not fallen over the ships but it is a few days away. no word of any progress. no compromise from either side. all with spending cuts and expiring tax credits. today, president obama pushed his proposed fix saying a deal must include higher tax rates. republicans say that is a job killer. they is said that forever. they let go of that, meeting at the white house yesterday. neither side will give any details about the conversation between president obama and speaker boehner. wendell, is there any time left to get this done? >>reporter: well, folks think there is time for enough of a deal but stopped short of a fiscal cliff but some think that has to happen this week. at a daimler truck stop the president didn't mention the upper income tax hike he is demanding but warned what will happen if congress doesn't extend the middle-class tax cuts both sides want. >> people will spend nearly $200 billion less than otherwise they would spend. consumer spending will go down. that means you have less customers, businesses get fewer profits, they hir
time for the fiscal cliff update. we have not fallen over the ships but it is a few days away. no word of any progress. no compromise from either side. all with spending cuts and expiring tax credits. today, president obama pushed his proposed fix saying a deal must include higher tax rates. republicans say that is a job killer. they is said that forever. they let go of that, meeting at the white house yesterday. neither side will give any details about the conversation between president obama...
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the fiscal cliff issues, et cetera. let the speaker do what the speaker does best, and that's negotiate his deal. >> the other michael steele, in this town, which is to say speaker boehner, one of his spokes people, released this tidbit of information, and i stress the word tidbit because it is ever so small. discussions with the white house are taking place, but we have no detail to share about the substance of those conversations. the republican offer made last week remains a republican offer, and we continue to wait for the president to identify the spending cuts he's willing to make as part of the balanced approach he promised the american people. when they are in a room together, do they stare at each other and not talk? presumably like some words are communicated and there is some ball moving somewhere if not forward then to the side? >> i'm going to twitch my eye a little bit. you're going to have to guess which entitlement i'm talking about. i think that's the case. i mean, it seems like part of the boehner stra
the fiscal cliff issues, et cetera. let the speaker do what the speaker does best, and that's negotiate his deal. >> the other michael steele, in this town, which is to say speaker boehner, one of his spokes people, released this tidbit of information, and i stress the word tidbit because it is ever so small. discussions with the white house are taking place, but we have no detail to share about the substance of those conversations. the republican offer made last week remains a republican...
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cheryl: and fiscal cliff fire sale. you will not believe what is going on in the hamptons' real estate market. we have a broker who says he can save you up to a million bucks on a home just like this one. deb dennis only 17.7mil. nicole petallides at the new york stock exchange. seeing green. >> reporter: nice little bargain there. hey, if you're saving a million oo more, that's a good bargain. we are seeing green across the board here, right now the dow jones industrials up one-quarter of 1%. let's take a look at the major averages, the dow jones industrials up 28 points, the tech-heavy nasdaq, we are seeing a lot of the tech stocks leading the way, but the composite is up 12 points almost half a percent in the s&p 500. also a winner. but let's take a lock at mcdonald's, one of the better performers on the dow. same-store sales were actually up, finally, once again because in october the same-store sales declined for the first time in nine years. so people began to worry. but, don't worry, because mcdonald's posted gai
cheryl: and fiscal cliff fire sale. you will not believe what is going on in the hamptons' real estate market. we have a broker who says he can save you up to a million bucks on a home just like this one. deb dennis only 17.7mil. nicole petallides at the new york stock exchange. seeing green. >> reporter: nice little bargain there. hey, if you're saving a million oo more, that's a good bargain. we are seeing green across the board here, right now the dow jones industrials up one-quarter...
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the fiscal cliff crisis and what going off it could actually mean for us. there seems to be little disagreement what this is all about. take a listen. >> when you're addicted to debt, 16 trillion bucks and you're in the hole, one trillion, and the markets will jump in and nobody will know when that is. the tippingpoint was always described by dick durbin, when will it happen? when it happens interest rates will go up, inflation will go up and guy that gets hurt the worst is the little guy. >> i think the overhyping of deficit, the deficit mania that is seized this town is kind of crazy. i mean i love alan simpson and erskine bowles, they're talking about inflation at a moment when people are paying us money to invest in our treasury bonds? jenna: charles payne, fox business network. he has his own list what we should worry about, charles, who is right here? >> reporter: i got to tell you the idea people are giving us money, america to our treasury bonds doesn't necessarily mean it is a vote of confidence in america. means the alternatives, traditional alter
the fiscal cliff crisis and what going off it could actually mean for us. there seems to be little disagreement what this is all about. take a listen. >> when you're addicted to debt, 16 trillion bucks and you're in the hole, one trillion, and the markets will jump in and nobody will know when that is. the tippingpoint was always described by dick durbin, when will it happen? when it happens interest rates will go up, inflation will go up and guy that gets hurt the worst is the little...
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. >>> oh, and you thought all you had to get through was the fiscal cliff fight. no. president obama's team is already working on the next big battle with republicans. immigration reform. politico reports the president is set to push his immigration plan soon and, quote, while top republicans think they need to make a big move on the issue and actually want a bipartisan deal with obama, the rank and file remains skeptical. joining me now, co-author of that article, jim vandahigh. let's start with a scene setter. when top republicans talk about making a big move, what do they mean? >> first you need to look back at the election. they look at the results and they saw mitt romney lost hispanicsy 44 points. i think establishment republicans are saying we got to do something and do something fast on immigration reform. particularly with providing a pathway to citizenship for illegal immigrants which has been a nonstarter for republicans until the last couple of weeks. what they're counseling their members to do is, listen, let's do a big deal with the president where we ta
. >>> oh, and you thought all you had to get through was the fiscal cliff fight. no. president obama's team is already working on the next big battle with republicans. immigration reform. politico reports the president is set to push his immigration plan soon and, quote, while top republicans think they need to make a big move on the issue and actually want a bipartisan deal with obama, the rank and file remains skeptical. joining me now, co-author of that article, jim vandahigh. let's...
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. >> just three weeks until fiscal cliff, and president obama and house speaker john boehner had a private meeting at the white house yesterday to discuss the deal. the president and speaker refuse to speak about itself of the meeting. some republican about putting increased pressure on party leaders to rethink opposition to tax hikes on the wealthy and taken it entitled cuts in return. many house republicans refused to support tax hikes under any circumstances. the democrats have been skeptical about rushing through in time or four before the end of the year. >> same-sex couples can now officially tied the knot in washington state. >> yesterday mark the first day that those couples are able to legally marry. there are more than 140 people that registered to marry at seattle city hall. seattle mayor mike mcginn called in a great and joy is a day with a noose rights be recognized. >> we will be right back--a new civil rights being recognized you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our emplo
. >> just three weeks until fiscal cliff, and president obama and house speaker john boehner had a private meeting at the white house yesterday to discuss the deal. the president and speaker refuse to speak about itself of the meeting. some republican about putting increased pressure on party leaders to rethink opposition to tax hikes on the wealthy and taken it entitled cuts in return. many house republicans refused to support tax hikes under any circumstances. the democrats have been...
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they see this fiscal cliff at the end of the year. even if it is a bad deal, we will have much stronger growth at the back half. stuart: do they think president obama gets the credit for this? >> they were not really keen on saying that at that very moment. certainly, if we fall off the cliff, it will be the republicans fault. >> i think it will be a bad deal. i do not see serious spending
they see this fiscal cliff at the end of the year. even if it is a bad deal, we will have much stronger growth at the back half. stuart: do they think president obama gets the credit for this? >> they were not really keen on saying that at that very moment. certainly, if we fall off the cliff, it will be the republicans fault. >> i think it will be a bad deal. i do not see serious spending